General
You need to have 59.5 distribution cancelled in DIME so you can submit an In-Service Withdrawal instead. What should you do?
Call the NPI line
Participant wants to pay off an existing loan, what 2 questions must you ask on this call?
1.) Are you still an active employee? 2.) Are you paying off early so you can reborrow from this account?
A participant's name on file is KATHERINE DENISE MORRIS. You ask her for her full name and she responds, "Kathy Morris." Do you accept that?
Yes
A participant asks you whether they will still owe taxes on the termination cash out they are submitting today. They want to cash out $10,000 pretax and have 20% withheld for federal 0% withheld for state (he lives in TX).
20% is an arbitrary number. For some participants it's too much and for others it's too little. Whether you owe more or are due a refund will be settled during tax season next year.
What PSL tabs should you be checking before you submit ANY distribution over the phone?
RPM Distribution tab, RPM Distribution sub tab, Financial Info tab, Cash Out screen.
You see a confusing message in the deferral tab explaining that some participants have match formula X but others have match formula Z. It's not really clear which is which. Where should you go next in PSL to learn more?
Where can you see if there is a waiting period between loans?
PSL Loans tab > beneath the max # of loans available.
What are ALL the places you can look in PSL to confirm the name(s) of a plan?
PSL messages drop down, PSL messages CRTL F, Employer provided email domain, Conversion Tab, and/or Plan Synoptics
Will the 10% penalty always be applied to a pretax withdrawal if the participant is under 59.5?
No
What are you looking for on RPM Distribution tab (and the sub tab for the distribution type?)
Limits / Restrictions, annuities, special timing, special return instructions
A participant wants to submit a Stop Pay Reissue - what should you do?
Use the Stop Pay Reissue Decision Tool
Demonstrate how to fill out the Loan Refi calculator
Demo
A 3rd party joins the line during authentication - what should you do?
In plain English, explain what "Basis" means vs. "earnings." What kind of withdrawals are impacted by basis vs. earnings?
Basis = money participant contributed
Earnings = growth/loss experience in the markets.
Basis vs. Earnings matters on Roth withdrawals, After-tax Withdrawals, IPRR conversions.
Where can you go in DIME to understand why a distribution is on hold?
Distribution Pend Inquiry
A plan is converting to Schwab, and the participant is very upset that they don't know what's going on. The messages in PSL aren't much help, where else should you look?
KC > Conversion Center
If a participant misses a loan payment on Feb 12, 2025 - when is the latest they can make up this payment to prevent a taxable event?
6/30/2025 (bonus point for the answer that is most helpful for participants).
While authenticating, you get the impression that the participant's age doesn't match their voice. You suspect the participant's mom is pretending to be the participant. What should you do?
Remind them you are on a recorded line and ask if they are calling in regards to their own account. If they say yes, what next?
An Active participant who is 60yrs old decides to withdrawal both pretax and Roth as part of a 59.5 distribution. Her Roth start date is January 2023. How will taxes/penalty apply to the Roth basis & earnings portion of her withdrawal?
Her Roth earnings will be taxable but can't be penalized. Her Roth basis will not be taxed or penalized?
Participant submitted a paper application HSW (summary verification), and wants to know the status. The application was submitted yesterday and the only note in MyQ says "Document intake - kindly do the needful)" - what should you do?
Review the attachment to see if it was filled out correctly. If it wasn't, explain to the participant what is still needed. If it was correct, then cover time needed for completion.
Where can you check which Division code a participant is assigned to in PSL?
Main PSL page, 3rd field from the bottom on the right hand side
A participant’s vested balance is 100k and they have never taken a loan before. Their est max available is currently 40k. Where would you go to learn why it’s not 50k?
PSL Loans tab > Plan Loans > Sources and Funds Available
You were CAT trained last year and completed your CAT workbook in Dec 2024. While authenticating the participant, you encounter some pink/red flags that make you feel suspicious. What should you do next?
Transfer to the Fraud Team
A participant wants to sign up for Auto-IPRR (which their plan allows). The participant already has an existing after-tax balance ($5,000). Why is it important to discuss the existing balance during this call?
Auto-IPRR prevents taxes on *new* conversions, but if there is already an existing after-tax balance, they will be incurring taxes with each auto-IPRR cycle.
On the Cash Out screen, the participant's only eligible distribution is a HSW. They have a HSW reason. You submit the distribution wthout checking RPM Distributions tab, and then get an AQ. The AQ says something about "Exhaust all options" - what might you have missed on the RPM Distriution tab?
Auto-IPRR prevents taxes on *new* conversions, but if there is already an existing after-tax balance, they will be incurring taxes with each auto-IPRR cycle.